In the upcoming budget for the fiscal year 2024-25, imported mobile phones are expected to see a hike in prices as the government proposes to increase taxes on these devices.
Sources reveal that the new budget includes provisions to raise the tax burden on imported mobile phones, including the imposition of federal excise duty.
Additionally, regulatory duty and Pakistan Telecommunication Authority (PTA) tax on imported luxury mobile phones are likely to witness an increase, according to insider reports. These measures aim to encourage local manufacturing of smartphones by making imported devices less competitive in the market.
Also Read: Govt proposes major budget boost for defence development
On the other hand, the budget is expected to offer incentives for the local production of smart mobile phones. Sources suggest that tax reductions are anticipated on the manufacturing of mobile parts, batteries, chargers, and headphones. These incentives aim to promote domestic manufacturing and stimulate the growth of the mobile phone industry within the country.
Meanwhile, Prime Minister Shehbaz Sharif-led federal government has proposed an allocation of Rs5.63 billion for the Ministry of Defence's development projects in the upcoming budget 2024-25. This comprehensive allocation encompasses 29 key projects, reflecting the government's commitment to enhancing military infrastructure and technology.
According to the budget document, Rs3.92 billion has been earmarked for nine ongoing projects within the Ministry of Defence.
